MARKET OPEN: It's all about inflation

Fri, 23 Oct 2020

A stronger-than-expected lift in today’s inflation data will see a short-term bounce in the New Zealand dollar that will up the ante on exporters.The kiwi was trading at 66.81 US cents at 8am versus 66.45 cents late yesterday in Wellington.“Kiwi is pushing up against resistance at 66.90 this morning. Technically, a sustained break above that level puts a move to the September high of 67.98 into play, and then it’s pretty much blue sky above that,” said ANZ Bank.The Reserve Bank is expecting the consumer price index to li...

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